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Arrow Announces Issuance of Stock Options and Filing of AGM Materials
Calgary, Alberta--(Newsfile Corp. - June 10, 2022) - Arrow Exploration Corp. (AIM: AXL) (TSXV:...
About this update from Arrow Exploration Corp.
[{"type":"text","content":"Arrow Announces Issuance of Stock Options and Filing of AGM MaterialsCalgary, Alberta--(Newsfile Corp. - June 10, 2022) - Arrow Exploration Corp. (AIM: AXL) (TSXV: AXL) (\"Arrow\" or the \"Company\"), announces the issuance of a total of 2,300,000 stock options (\"Options\"), pursuant to the Company's Stock Option Plan (\"the Plan\") to certain Directors and senior management, as detailed below. The Plan is intended to assist in attracting, retaining, engaging, and rewarding directors, officers, employees, and consultants of the Company, provide additional incentive to these people for their efforts on behalf of the Company, and to align with shareholder interests. Under the Plan, the Company can issue Options to a maximum of 10% of the number of issued and outstanding common shares in the Company from time to time.Included in the total issuance of Options above, the following have been awarded to directors/PDMRs:NameRoleOptions issuedVestingExpiryMarshall AbbottCEO & Director400,0001/3 yr 1, 1/3 yr 2, 1/3 yr 36 months after vest datePhil MillerSenior VP Exploration900,0001/3 yr 1, 1/3 yr 2, 1/3 yr 36 months after vest date The Options issued have an exercise price of CAD$ 0.28, the closing market price of the Company's common shares trading on the TSX Venture Exchange on June 9, 2022. The Options vest in thirds, with one third vesting upon each of the first, second and third anniversaries of issuance, and expire on six (6) months after vesting. The grant of the Options is subject to regulatory approval. Following the issuance of these Options, the Company shall have a total of 15,845,000 options issued under the Plan. AGM MaterialsThe Company is pleased to announce materials related to the Annual and Special Meeting of Shareholders have been filed, fulfilling all related regulatory requirements.Materials for the Annual and Special Meeting of Shareholders will be mailed no later than June 17, 2022 to Arrow Exploration Corp. shareholders of record as at June 9, 2022. The materials related to the Annual and Special Meeting of Shareholders are also available on SEDAR at www.sedar.com and the Company's website at www.arrowexploration.ca.For further Information, contact:Arrow ExplorationMarshall Abbott, CEO +1 403 651 5995Joe McFarlane, CFO +1 403 818 1033Brookline Public Relations, Inc. Shauna MacDonald +1 403 538 5645Canac...